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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Post-Exit Operating Performance of PE-Backed Firms – An Empirical Analysis |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 41 |
| Date | 2019 |
| Abstract Text | This study examines the effect of private equity (PE) involvement on the post-exit operating performance of portfolio companies. The analysis is based on a sample of 82 private equity backed UK companies over 2009 and 2017 and a matched control sample. The results indicate a positive PE effect on return on sales in the post-exit period. An equivalent clear pattern cannot be identified for return on assets. When restricting the analysis to the sub-samples, the results suggest that more reputable funds positively and significantly impact the post-exit profitability of PE-backed firms, whereas exit route is weakly associated with operating profitability. |
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